The consumer price index, (CPI) which measures inflation increased by 11.98 percent (year-on-year) in December 2019. This is 0.13 percent points higher than the rate recorded in November 2019 (11.85) percent.

Increases were recorded in all COICOP divisions that yielded the Headline index.

On a month-on-month basis, the Headline index increased by 0.85 percent in December 2019, this is 0.17 percent rate lower than the rate recorded in November 2019 (1.02) percent.

The percentage change in the average composite CPI for the twelve months period ending December 2019 over the average of the CPI for the previous twelve months period was 11.40 percent, showing 0.05 percent point from 11.35 percent recorded in November 2019.

The urban inflation rate increased by 12.62 percent (year-on-year) in December 2019 from 12.47 percent recorded in November 2019, while the rural inflation rate increased by 11.41 percent in December 2019 from 11.30 percent in November 2019.

On a month-on-month basis, the urban index rose by 0.90 percent in December 2019, down by 0.17 from 1.07 percent recorded in November 2019, while the rural index also rose by 0.82  percent in December 2019, down by 0.16 from the rate recorded in November 2019 (0.98) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.83 percent in December 2019. This is higher than 11.75 percent reported in November 2019, while the corresponding rural inflation rate in December 2019 is 11.00 percent compared to 10.98 percent recorded in November 2019.

Food Index

The composite food index rose by 14.67 percent in December 2019 compared to 14.48 percent in November 2019.

This rise in the food index was caused by increases in prices of Bread and cereals, Meat, Fish, Oils and fats, Potatoes, yam and other tubers.

On a month-on-month basis, the food sub-index increased by 0.97 percent in December 2019, down by 0.28 percent points from 1.25 percent recorded in November 2019.

The average annual rate of change of the Food sub-index for the twelve-month period ending December 2019 over the previous twelve-month average was 13.74 percent, 0.09 percent points from the average annual rate of change recorded in November 2019 (13.65) percent.

All Items Less Farm Produce

The "All items less farm produce" or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.33  percent in December 2019, up by 0.34 percent when compared with 8.99 percent recorded in November 2019.

On a month-on-month basis, the core sub-index increased by 0.81 percent in December 2019. This was up by 0.02 percent when compared with 0.79 percent recorded in November 2019.

The highest increases were recorded in prices of Hospital services, Hairdressing salons and personal grooming establishment, Garments, Repair and hire of footwear, Vehicle spare parts, Passenger transport by air, Shoes and other footwear, Appliances, articles and products for personal care, Clothing materials, other articles of clothing and clothing accessories and Cleaning, Repair and hire of clothing,

The average 12-month annual rate of change of the index was 9.15 percent for the twelve-month period ending December 2019; this is 0.04 percent points lower than 9.19 percent recorded in November 2019. 

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation

In December 2019, all items inflation on year on year basis was highest in Bauchi (15.14%), Kebbi (14.43%) and Plateau (14.34%), while Katsina (10.68%), Kwara (9.93%) and Abuja (9.77%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis, however, December 2019 all items inflation was highest in Kogi (2.42%), Bauchi (1.98%) and Kaduna (1.81%), while Kwara (0.19%) and Delta (0.08%) recorded the slowest rise on month on month inflation with Edo recording price deflation or negative inflation (general decrease in the general price level or negative inflation rate).

Food Inflation

In December 2019, food inflation on a year on year basis was highest in Sokoto (17.75%), Ogun (17.37%) and Plateau (16.75%), while Bayelsa (13.26%), Delta(12.72%) and Bauchi (12.19%) recorded the slowest rise.

On month on month basis, however, December 2019 food inflation was highest in Kogi (2.82%), Kaduna (2.63%) and Abia(2.21%), while Delta, Edo, Imo and Kwara recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

SOURCE: https://brandspurng.com/2020/01/17/headline-inflation-climbs-by-11-98-in-december-2019-0-13-higher-than-november-2019-rate/

This effectively cancels out any perceived gains of the now increased minimum wage (which many state governments are yet to implement anyways).

The current economic conditions in the country demands that the minimum wage be reviewed annually. In light of this latest report, minimum wage should not be anything less than #50,000.

But as strange as it may sound, increasing the salaries across board will only occasion more inflation. Elected officers and political appointees should take a huge pay cut.

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Still double-digit inflation yet the propaganda voodoo economists shoving the failed regime up will say the economy is great.Meanwhile, recession is still a byword.

Nawaao

Ok

According to buhari, all is in order, we're still trying to clean pdp's mess, since the amalgamation in 1914.

It is always expected, January inflation,

Back then January was the driest month, but thank God we had our budget passed

.

Cool

Expected

thats massive
too much money in circulation

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We know

It was expected given the border closure and increased demand on all food items during the Christmas and New year celebration.

Inflation is not very bad if it's gradual. Why? Because it encourages producers (farmers and sellers alike) to produce or sell more. Won't you like it if price of what you are selling increases albeit slightly?

The important issue now is how we can move forward and help our nation prosper. Those who planted rice, please plant more... Ensure you care for the ones planted and harvest and store well for next season.

Those who have money, please pull your resources together and set up modern rice milling and processing plants.

Stop building fuel stations and hotels and bars...

Politicians that keep stealing and storing abroad, use your head. Build factories and processing plants in Nigeria instead and help your country prosper.

We will get it right steadily.

January

Ravon:
The consumer price index, (CPI) which measures inflation increased by 11.98 percent (year-on-year) in December 2019. This is 0.13 percent points higher than the rate recorded in November 2019 (11.85) percent.

Increases were recorded in all COICOP divisions that yielded the Headline index.

On a month-on-month basis, the Headline index increased by 0.85 percent in December 2019, this is 0.17 percent rate lower than the rate recorded in November 2019 (1.02) percent.

The percentage change in the average composite CPI for the twelve months period ending December 2019 over the average of the CPI for the previous twelve months period was 11.40 percent, showing 0.05 percent point from 11.35 percent recorded in November 2019.

The urban inflation rate increased by 12.62 percent (year-on-year) in December 2019 from 12.47 percent recorded in November 2019, while the rural inflation rate increased by 11.41 percent in December 2019 from 11.30 percent in November 2019.

On a month-on-month basis, the urban index rose by 0.90 percent in December 2019, down by 0.17 from 1.07 percent recorded in November 2019, while the rural index also rose by 0.82  percent in December 2019, down by 0.16 from the rate recorded in November 2019 (0.98) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.83 percent in December 2019. This is higher than 11.75 percent reported in November 2019, while the corresponding rural inflation rate in December 2019 is 11.00 percent compared to 10.98 percent recorded in November 2019.

Food Index

The composite food index rose by 14.67 percent in December 2019 compared to 14.48 percent in November 2019.

This rise in the food index was caused by increases in prices of Bread and cereals, Meat, Fish, Oils and fats, Potatoes, yam and other tubers.

On a month-on-month basis, the food sub-index increased by 0.97 percent in December 2019, down by 0.28 percent points from 1.25 percent recorded in November 2019.

The average annual rate of change of the Food sub-index for the twelve-month period ending December 2019 over the previous twelve-month average was 13.74 percent, 0.09 percent points from the average annual rate of change recorded in November 2019 (13.65) percent.

All Items Less Farm Produce

The "All items less farm produce" or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.33  percent in December 2019, up by 0.34 percent when compared with 8.99 percent recorded in November 2019.

On a month-on-month basis, the core sub-index increased by 0.81 percent in December 2019. This was up by 0.02 percent when compared with 0.79 percent recorded in November 2019.

The highest increases were recorded in prices of Hospital services, Hairdressing salons and personal grooming establishment, Garments, Repair and hire of footwear, Vehicle spare parts, Passenger transport by air, Shoes and other footwear, Appliances, articles and products for personal care, Clothing materials, other articles of clothing and clothing accessories and Cleaning, Repair and hire of clothing,

The average 12-month annual rate of change of the index was 9.15 percent for the twelve-month period ending December 2019; this is 0.04 percent points lower than 9.19 percent recorded in November 2019. 

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation

In December 2019, all items inflation on year on year basis was highest in Bauchi (15.14%), Kebbi (14.43%) and Plateau (14.34%), while Katsina (10.68%), Kwara (9.93%) and Abuja (9.77%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis, however, December 2019 all items inflation was highest in Kogi (2.42%), Bauchi (1.98%) and Kaduna (1.81%), while Kwara (0.19%) and Delta (0.08%) recorded the slowest rise on month on month inflation with Edo recording price deflation or negative inflation (general decrease in the general price level or negative inflation rate).

Food Inflation

In December 2019, food inflation on a year on year basis was highest in Sokoto (17.75%), Ogun (17.37%) and Plateau (16.75%), while Bayelsa (13.26%), Delta(12.72%) and Bauchi (12.19%) recorded the slowest rise.

On month on month basis, however, December 2019 food inflation was highest in Kogi (2.82%), Kaduna (2.63%) and Abia(2.21%), while Delta, Edo, Imo and Kwara recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

SOURCE: https://brandspurng.com/2020/01/17/headline-inflation-climbs-by-11-98-in-december-2019-0-13-higher-than-november-2019-rate/

dnt stay broke check my signature

With 7.5% VAT yet to be implemented .......



Next level of change coming shortly ...

Dependency on oil = inflation inflation inflation


We sit on a ton of raw materials that if used well can turn us into a powerful industrial nation...and there is nothing the Americans , etc can do about it. Yet, we rely on oil, whose price jumps up and down and up and down, we don't even earn enough from it, the last time we earned enough from it was 8 years ago, when oil was at $120 per barrel..and even then we had to take loans to balance things out.

Yes, we laughed at Obi...but the truth is, we have to become like China, not like Dubai or Saudi Arabia. We must go INDUSTRIAL. We have no choice.

Ok

[s]

itsme01:




It is always expected, January inflation,

Back then January was the driest month, but thank God we have our budget passed

.

[/s]

Hmmmm, everything cost everywhere but salary remains the same

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chat up to see real result

Interesting times..

Meanwhile, register your Business, Church and Company with the CAC at discounted prices. Check our signature and page for more details.

Offer lasts for a limited period only.

What do you expect when CBN cut rates

ArcSEMPECJ:
With 7.5% VAT yet to be implemented .......



Next level of change coming shortly ...

The reason why we have 7.5 % VAT is because the oil price is not high enough to fill the treasury.

(No, I am not defending Buhari).

Long term , this government needs to diversify...which it isn't, sadly. It's all audio diversification...but in the short term, funds have to be raised, and it would come from raising taxes.

Unless oil goes above $120 per barrel.

As expected.

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As a homieeeee kindaaaa lady, given the uncertainty surrounding the path of the economy, the cbn might have been expected to signal its readiness to increase rates first quarter 2020, if necessary, more clearly. Confidence is easier to maintain than to restore, and the risks of a surge in inflation have skyrocketed.

Wailers, Children of hate, IPOB dooms day analyst.
Nigeria Economy is "unseen" the best in the world.

Ravon:
The consumer price index, (CPI) which measures inflation increased by 11.98 percent (year-on-year) in December 2019. This is 0.13 percent points higher than the rate recorded in November 2019 (11.85) percent.

Increases were recorded in all COICOP divisions that yielded the Headline index.

On a month-on-month basis, the Headline index increased by 0.85 percent in December 2019, this is 0.17 percent rate lower than the rate recorded in November 2019 (1.02) percent.

The percentage change in the average composite CPI for the twelve months period ending December 2019 over the average of the CPI for the previous twelve months period was 11.40 percent, showing 0.05 percent point from 11.35 percent recorded in November 2019.

The urban inflation rate increased by 12.62 percent (year-on-year) in December 2019 from 12.47 percent recorded in November 2019, while the rural inflation rate increased by 11.41 percent in December 2019 from 11.30 percent in November 2019.

On a month-on-month basis, the urban index rose by 0.90 percent in December 2019, down by 0.17 from 1.07 percent recorded in November 2019, while the rural index also rose by 0.82  percent in December 2019, down by 0.16 from the rate recorded in November 2019 (0.98) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.83 percent in December 2019. This is higher than 11.75 percent reported in November 2019, while the corresponding rural inflation rate in December 2019 is 11.00 percent compared to 10.98 percent recorded in November 2019.

Food Index

The composite food index rose by 14.67 percent in December 2019 compared to 14.48 percent in November 2019.

This rise in the food index was caused by increases in prices of Bread and cereals, Meat, Fish, Oils and fats, Potatoes, yam and other tubers.

On a month-on-month basis, the food sub-index increased by 0.97 percent in December 2019, down by 0.28 percent points from 1.25 percent recorded in November 2019.

The average annual rate of change of the Food sub-index for the twelve-month period ending December 2019 over the previous twelve-month average was 13.74 percent, 0.09 percent points from the average annual rate of change recorded in November 2019 (13.65) percent.

All Items Less Farm Produce

The "All items less farm produce" or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.33  percent in December 2019, up by 0.34 percent when compared with 8.99 percent recorded in November 2019.

On a month-on-month basis, the core sub-index increased by 0.81 percent in December 2019. This was up by 0.02 percent when compared with 0.79 percent recorded in November 2019.

The highest increases were recorded in prices of Hospital services, Hairdressing salons and personal grooming establishment, Garments, Repair and hire of footwear, Vehicle spare parts, Passenger transport by air, Shoes and other footwear, Appliances, articles and products for personal care, Clothing materials, other articles of clothing and clothing accessories and Cleaning, Repair and hire of clothing,

The average 12-month annual rate of change of the index was 9.15 percent for the twelve-month period ending December 2019; this is 0.04 percent points lower than 9.19 percent recorded in November 2019. 

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation

In December 2019, all items inflation on year on year basis was highest in Bauchi (15.14%), Kebbi (14.43%) and Plateau (14.34%), while Katsina (10.68%), Kwara (9.93%) and Abuja (9.77%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis, however, December 2019 all items inflation was highest in Kogi (2.42%), Bauchi (1.98%) and Kaduna (1.81%), while Kwara (0.19%) and Delta (0.08%) recorded the slowest rise on month on month inflation with Edo recording price deflation or negative inflation (general decrease in the general price level or negative inflation rate).

Food Inflation

In December 2019, food inflation on a year on year basis was highest in Sokoto (17.75%), Ogun (17.37%) and Plateau (16.75%), while Bayelsa (13.26%), Delta(12.72%) and Bauchi (12.19%) recorded the slowest rise.

On month on month basis, however, December 2019 food inflation was highest in Kogi (2.82%), Kaduna (2.63%) and Abia(2.21%), while Delta, Edo, Imo and Kwara recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

SOURCE: https://brandspurng.com/2020/01/17/headline-inflation-climbs-by-11-98-in-december-2019-0-13-higher-than-november-2019-rate/

Please, how do they rate these things because in December in Ogun State, there was deflation especially in food prices or at worst, same price NOT inflation?

I'm not an APC or PDP member ooo, I'm just stating my honest observation.